You can't make this shit up.
AP Obama, here:
Inflation in the United States, which had been under control since the early 1980s, resurged with a vengeance just over a year ago, largely a consequence of the economy’s unexpectedly robust recovery from the pandemic recession. The rebound caught businesses by surprise and led to shortages, delayed shipments — and higher prices.
Inflation averaged 4.75% 1981-1990 inclusive. You can't call that "under control". The FedFunds rate averaged 9.4% over that same period. The one halved your nest egg in about 15 years while the other halved what was left in 7.5.
If that's success I'd hate to see failure.
While the Fed fiddles around with interest rates as if they controlled anything, oh look! over there! a deer!, it has presided over an orgy of balance sheet expansion of $7.7 trillion since 2008 as the Treasury has flooded the economy with $1.5 trillion in new currency and the Congress of idiots has spent us blind with $15.75 trillion beyond the 2008 baseline ballooning the total debt to $30 trillion by the end of 2021 so that it's three times the size that it was just 14 years ago.
An economy which runs only on going deep into debt is not a capitalist economy.
It's a Chinese communist economy.
